Timothy L. O’Brien writes:

Elon Musk just bought a $3 billion stake in Twitter Inc., because when you’re the world’s richest human you can toss billions around like poker chips.

This may be just another piece of performance art from Musk, who has alternately endorsed and pooh-poohed Bitcoin to great effect. He’s also taken to Twitter to hype altcoins such as Dogecoin and Shiba Inu, while simultaneously warning followers: “Don’t bet the farm on crypto!”

“True value is building products & providing services to your fellow human beings, not money in any form,” he cautioned, which may be easy advice to give when your net worth is $273 billion, your electric vehicle company is surging and you can shoot your own rockets into space.

So maybe we should take Musk’s Twitter investment as more of the same from the guy who has pondered the meaning of life while sipping whiskey and smoking weed during a podcast and once mysteriously claimed he had “funding secured” to take Tesla Inc. private. But I suspect there’s something more serious informing Musk’s decision to invest in Twitter, even if he revels in buffoonery: Maybe he wants to bring Twitter to heel. [Continue reading…]

The Verge reports:

Twitter is appointing Tesla CEO Elon Musk to its board of directors, according to a filing with the US Securities and Exchange Commission. Musk will serve as a class II director until 2024. Twitter’s classified board system places members in overlapping terms, helping to prevent a newly-appointed board member from gaining control of the company right away.

In a pair of tweets, Twitter CEO Parag Agrawal confirmed Musk’s new role on the board. He called Musk “both a passionate believer and intense critic of the service” and said he would “bring great value to our Board.” Musk responded via Twitter saying he looks forward “to making significant improvements to Twitter in coming months!” [Continue reading…]